Telegraph
Shadow KYC Vendors: The $4B Industry You Never See
Shadow KYC Vendors: The $4B Industry You Never See
In 2023, a major global payment processor faced a sudden halt in transaction processing for a specific region. The trigger was not a cyberattack or a regulatory fine, but a decision by a third-party data provider to flag a cluster of IP addresses as high-risk. The entity behind the processor had never directly interacted with the data vendor, nor did they possess the raw geolocation datasets used to make the determination. Yet, the financial imp
